Yesterday gave us a nice down day and I recommended taking some/all of the 4012 short entry off the table, being we are in sloppy/choppy trade mode now. We did get 100spx on the trade and that is exactly what we were looking for in trade mode. This morning, futures are rallying nicely, but I … Read more
Futures are bouncing this morning and my preferred pattern is to see the spx test the 3900 support zone. If you took the short side from 4015, place your stop at entry and let it ride. We are in trade mode and if the trade goes as planned, then we might look long down there. … Read more
Futures are down marginally and that is another win for the bulls after some massive rallies this week. Nothing has changed on my end. I can build a great case for both the bulls/bears, but short term, the advantage goes to the bears. There are sell signals on the 60’s and heavy resistance is not … Read more
Futures are flat again this morning and the bulls are starting to look a little tired. The sell signals on the /es 60’s are clear and the choppy toppy pattern is suggesting we could see selling at any time anywhere up here. I am still waiting to see if the 4000 comes into play before … Read more
Futures are flat this morning after yesterday’s massive short squeeze yesterday. That is a win for the bulls and there really isn’t a whole lot to go over this morning. Nothing has changed in my mind. I am on the fence and open-minded regarding the next directional move. Let’s see if the bears try and … Read more
Welcome to the whipsaw market. Yesterday we saw the /es gap open some 30+ points only to close down 32 points. This morning we wake up to the /es +29 as I type. There are times to be aggressive on the long/short side and there are times to watch from the sidelines. We closed our position … Read more
The /es is +35 as I type and the master planners are picking up the pace of the well-orchestrated short squeeze. I am a little frustrated at myself for raising the stop and should have just left it at entry, being we already closed 2/3 of the long trade with an average gain of 180 … Read more
The /es is +8 as I type and the bulls are not giving up without a fight. We have made a series of lower highs and lower lows, so the bears are in control of the short-term direction. I am on the fence as far as which way we will move in the coming days/weeks. … Read more
The bears are starting to get some traction here on the downside. I/We are cash right now and I will be watching for bounces to short. My thinking is we will be in trade mode until the end of the month. That means instead of looking for swing trades like we took at the 3640 … Read more
CPI came in hot again and our final 1/3 of the long side trade will be stopped at the open. We still could see some big moves in both directions, but the bad news that this administration is throwing out to the economy is just too overwhelming for any real sustained rally. But even with … Read more
